Amias Gerety

New regulations that target #EmbeddedFinance might bring complications for companies, but could also aid growth by building consumer trust, Jess Purdy writes in FinTech Rising. While our CEO, Chris Dean, notes that, "the prospect of increased federal guidance will likely make everyone a bit more cautious," he assures that "the need to offer innovative financial solutions will continue apace." Embedded banking pushes #FinancialServices to innovate while fulfilling genuine demand — and it's here to stay. Read the full piece: https://bit.ly/3yx7bK7

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"Now, FusionIQ is bidding to integrate wealth management into the increasingly popular payment method. FIQ Wallet lets users invest their earnings directly from their payment wallets without the need to transfer funds to traditional bank accounts, reducing fees and simplifying the process. By keeping money within the wallet and allowing it to grow through investments, FIQ Wallet increases the “stickiness” of digital wallets, leading to higher user engagement." Excellent coverage of our FIQ Wallet launch in Finextra. If you're looking to expand your wallet services to increase user engagement and adoption, let's talk about how FIQ Wallet can seamlessly integrate sophisticated wealth management capabilities, including goals-based digital advice and self-directed investing directly into your wallet. You can learn more about FIQ Wallet here: https://lnkd.in/gAp7bF-B Read the full analysis of FIQ Wallet by the Finextra editorial team here: https://lnkd.in/dS7RhNf5 #digitalwallets #wealthtech #payments #digitalleadership #fintech

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We are super excited to announce a beta release of our new ACH fraud model built specifically for the unique needs of software platforms ⚡ It automatically scores incoming ACH charges via Stripe Connect for their likelihood of return, empowering software platforms to reduce fraud losses and lower unauthorized ACH return rates. 🙌 ACH continues to be a popular method of payment 💸 especially for large ticket transactions such as contractor/construction payments. However, over 30% of businesses have experienced fraud when accepting ACH payments even though it's cheaper to accept. 😮 "Friendly fraud" in ACH continues to be a huge issue for platforms and merchants on Stripe Connect. While ACH is popular among merchants given it's lower cost, platforms struggle with the economics of ACH especially when fraud threatens to take away a huge portion of their revenue 🤔 Our new ACH fraud model is setup to automatically score the ACH charges for our platform customers on Stripe and vet potentially high risk transactions with an additional review in our Fuzio platform. 🤝 With the early success of this model, we are excited to open up the beta for other platforms 🎯 For more, read the announcement in the comments section 👇

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For the first time, RDFIs will have a defined role in monitoring ACH payments they receive. This significant development, approved by Nacha members, aims to combat fraud, including business email compromise (BEC), associated with credit-push payments. As Jane Larimer, Nacha President and CEO, points out, "All participants in the ACH Network have a part to play in reducing the incidence of fraud and recovering when fraud has occurred." Learn more in our April 2024 Innovating Payments Executive Summary— Nacha Rules Take Aim at Credit-Push Fraud: https://lnkd.in/ezsgudgX. Plan to join Sean Carter, AAP, APRP, Mark J. Dixon, CTP, AAP, APRP, NCP, Mary Morrison, AAP, APRP, NCP, CAMS, and Patty Presta for a comprehensive two-part series, "Diving Into the Operation Impact of the New ACH Rules," on May 31 and June 07, 2024, where they will delve into the implications of these new rules, offering insights on implementation, procedures, policy updates, audits, risk assessments, and organizational engagement. 🔍 Curious about engaging with third-party providers? 📝 Wondering about new procedures and policy updates? 🤔 Unsure about ACH audits or risk assessments? Get the answers by registering for Diving Into the Operation Impact of the New ACH Rules: https://lnkd.in/e7y73DN2 #ACH #FinancialServices #FraudPrevention #RegulatoryCompliance #ProfessionalDevelopment

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Many community banks still struggle with some of the "table stakes” lending technologies: signing documents across parties, utilizing lending tech to simplify workflows, and collecting online inquiries and applications. These challenges directly impact the customer experience. And the stakes are higher than ever—nearly 6 in 10 Gen Z consumers, along with a significant percentage of Millennials, said they would switch financial services organizations in favor of a bank that offers better apps and digital capabilities. Even 34% of Generation X and 15% of Boomers are willing to make the switch. It's time to accelerate toward a better digital lending experience. 🚀 Discover how your bank can overcome these hurdles and enhance your customer journey in our latest blog: https://bit.ly/3YX2Nzg (Source: BAI)

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